Which of the following is an example of a monopolist granted a legal market power? (You need to do some information gathering for this problem.)
A) American Telephone and Telegraph Company until 1984
B) Major League Baseball in the United States
C) Salt Commission in China in the eighth and ninth centuries (Tang Dynasty).
D) All of the above

Question

Quizplus · Accepted Answer

All of the options provided are examples of monopolists that were granted legal market power. The American Telephone and Telegraph Company (AT&T) held a monopoly in the United States' telephone service until its breakup in 1984. Major League Baseball (MLB) in the United States has been granted an exemption from antitrust laws, effectively allowing it to operate as a legal monopoly. The Salt Commission in China during the Tang Dynasty was a state-run monopoly controlling the production and sale of salt.

Which of the Following Is an Example of a Monopolist